Johnson & Johnson (NYSE:JNJ) Trading Down 1.1% - Here's What Happened

Johnson & Johnson (NYSE:JNJ - Get Free Report) shares fell 1.1% during mid-day trading on Thursday . The stock traded as low as $150.71 and last traded at $150.77. 8,323,506 shares were traded during trading, an increase of 4% from the average session volume of 7,967,133 shares. The stock had previously closed at $152.38.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Barclays reduced their price objective on Johnson & Johnson from $166.00 to $165.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. Benchmark raised Johnson & Johnson to a "strong-buy" rating in a research report on Thursday, April 24th. Raymond James Financial lowered their price target on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. The Goldman Sachs Group raised shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $157.00 to $172.00 in a report on Wednesday, April 9th. Finally, Sanford C. Bernstein reissued a "market perform" rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Eleven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $170.88.

Johnson & Johnson Price Performance

The firm has a market capitalization of $362.76 billion, a P/E ratio of 16.77, a PEG ratio of 2.31 and a beta of 0.42. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.26 and a quick ratio of 1.03. The company's 50 day moving average price is $154.06 and its 200 day moving average price is $153.67.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, topping analysts' consensus estimates of $2.59 by $0.18. The firm had revenue of $21.89 billion during the quarter, compared to analyst estimates of $21.65 billion. Johnson & Johnson had a return on equity of 33.46% and a net margin of 24.42%. As a group, sell-side analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th were given a dividend of $1.30 per share. This is a boost from Johnson & Johnson's previous quarterly dividend of $1.24. The ex-dividend date was Tuesday, May 27th. This represents a $5.20 annualized dividend and a dividend yield of 3.45%. Johnson & Johnson's payout ratio is presently 57.84%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. WealthTrak Capital Management LLC acquired a new position in shares of Johnson & Johnson during the 4th quarter worth about $26,000. Mountain Hill Investment Partners Corp. bought a new position in Johnson & Johnson during the 4th quarter worth approximately $29,000. Conquis Financial LLC acquired a new position in Johnson & Johnson during the fourth quarter valued at approximately $33,000. Bernard Wealth Management Corp. acquired a new stake in Johnson & Johnson in the fourth quarter worth $36,000. Finally, Runnymede Capital Advisors Inc. bought a new position in shares of Johnson & Johnson during the fourth quarter worth $38,000. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Company Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.

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